Search our reinsurance online glossary of terms or click a letter to view terms in that category...

MANAGER
In reinsurance, any person, partnership or corporation representing an insurer or reinsurer and underwriting for the insurer's or reinsurer's account.


MARGIN
See PROFIT MARGIN.


MAXIMUM FORESEEABLE LOSS
The anticipated maximum property fire loss that could result, given unusual or the worst circumstances with respect to the nonfunctioning of protective features (firewalls, sprinklers, a responsive fire department, etc.), as opposed to PML (Probable Maximum Loss), which would be a similar valuation but under the assumption that such protective features function normally.


MFL
See MAXIMUM FORESEEABLE LOSS


MINIMUM PREMIUM
The least premium charge applicable, frequently used in excess of loss reinsurance contracts (per risk or catastrophe covers) which contain a provision that the final adjusted premium may not be less than a stated amount.


MORTGAGE INSURANCE
+ A specialty line among financial guarantees which indemnifies a mortgage lender for loss on real estate loans resulting from default by a borrower if liquidation of the property proves insufficient to cover the outstanding principal.


MORTGAGEE ENDORSEMENT
Another name for GUARANTY ENDORSEMENT.